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Brazilian markets reacted with strong losses to the re-election of Luiz Inácio Lula da Silva. The real fell by about 12% against the dollar and the futures of the Bovespa index sank almost 15%, amid investors' doubts about the fiscal policy of the next government and the uncertainty generated by Flávio Bolsonaro's decision to challenge the election result.
Brazilian markets reacted with strong losses to the re-election of Luiz Inácio Lula da Silva. The real fell by about 12% against the dollar and the futures of the Bovespa index sank almost 15%, amid investors' doubts about the fiscal policy of the next government and the uncertainty generated by Flávio Bolsonaro's decision to challenge the election result.
